Put your logo here

Put your organization name here

Project Risk Management Plan Template

Rev. 2.0, 09/07/2003

PROJECT RISK MANAGEMENT PLAN

Project Name: Prepared by: Date (MM DD !!!!" :

#$ R%&' Ma(a)eme(t Strate)y

#$ De*%(e t+e r%&' ma(a)eme(t met+odo,o)y to be -&ed (The risk management process is scalable to ensure
that the level, type, and visibility of risk management are commensurate with both the risk and the importance of the project.) :

R%&' Ide(t%*%cat%o( Identify risks by using the Risk Assessment Questionnaire and Project Planning Risk
Assessment Checklist, augmented to include other project specific risks, as appropriate.

R%&' Cate)or%.at%o( roup the risks into categories by using the Risk Assessment Questionnaire. The
project manager can create additional categories, as re!uired.

R%&' Impact A&&e&&me(t "nter all risks into the Risk Res onse Plan document. #or each risk identified,
assess the risk event in terms of likelihood of occurrence ($isk %robability) and its effect on project objectives if the risk event occurs ($isk &everity ' Impact &core). This information will be used to prioriti(e the risk using established threshold criteria.

R%&' Pr%or%t%.at%o( ) $isks that meet the threshold criteria will be so noted in the Risk Res onse Plan.
These $isks will be prioriti(ed.

R%&' Re&po(&e P,a((%() #or each risk in the Risk Res onse Plan that is above the $isk Threshold*
+etermine the options and actions to reduce the likelihood or conse!uences of impact to the project,s objectives +etermine the response based on a cost-benefit analysis (cost vs. e.pected effectiveness) +escribe the actions to be taken to mitigate the risk +escribe the &igns and &ymptoms that may be indicators of $isk "vent occurrence +escribe the actions to be taken when the risk event occurs (contingency plan) /ssign responsibilities for each agreed)upon response /ssign a 0due date1 where risk responses are time)sensitive Incorporate this information into the Risk Res onse Plan.

R%&' Re&po(&e Trac'%() *

+ocument the dates and the actions taken to mitigate the risk +ocument the actions taken when the risk event occurred (contingency plan) +ocument any subse!uent actions taken Incorporate this information into the Risk Res onse Plan

%ut your organi(ation name here

Page !

Put your logo here

Put your organization name here

Project Risk Management Plan Template

Rev. 2.0, 09/07/2003

#$ R%&' Ma(a)eme(t Strate)y

R%&' Mo(%tor%() ) "stablish systematic reviews and schedule them in the project schedule, ensuring the following reviews* "nsure that all re!uirements of the Risk "anagement Plan are being implemented /ssess currently defined risks as defined in the Risk Res onse Plan "valuate effectiveness of actions taken Identify status of actions to be taken 2alidate previous risk assessment (likelihood and impact) 2alidate previous assumptions &tate new assumptions Identify new risks Track risk response "stablish communications. 2alidate mitigation strategies and alternatives Take corrective action when actual events occur /ssess impact on the project of actions taken (cost, time, resources) Identify new risks resulting from risk mitigation actions "nsure the %roject %lan (including the Risk "anagement Plan) is maintained "nsure change control addresses risks associated with the proposed change $evise the Risk Assessment Questionnaire, Project Planning Risk Assessment Checklist and other risk management documents to capture results of mitigation actions. $evise Risk Res onse Plan "stablish communications.

R%&' Co(tro,

/$ De*%(e a&&-mpt%o(& t+at +a0e a &%)(%*%ca(t %mpact o( project r%&': 1$ De*%(e t+e ro,e& a(d re&po(&%b%,%t%e& -(%2-e to t+e r%&' ma(a)eme(t *-(ct%o(:
$isk 3anagement Team* $isk $esponse Tracking 6oordinator* "ilestone 4Team 3ember5 4Team 3ember5 4Team 3ember5 47ame5
(insert rows as needed):

3$ De*%(e r%&' ma(a)eme(t m%,e&to(e&

#ate
$""/##/%%% %&

Risk "anagement Plan approved Risk Assessment Questionnaire tailored to project

Page 2

%ut your organi(ation name here

Put your logo here

Put your organization name here

Project Risk Management Plan Template

Rev. 2.0, 09/07/2003

#$ R%&' Ma(a)eme(t Strate)y

Risk Assessment Questionnaire and Project Planning Risk 'valuation Checklist complete Risk Res onse Plan approved Risk "anagement Revie(s scheduled

4$ De*%(e r%&' rat%() &cor%() tec+(%2-e&

(The project will rate each identified risk (e.g., Impact &core ' 8igh, 3edium, 9ow) based on the likelihood that the risk event will occur and the effect on the project,s objectives if the risk event occurs. This will be a subjective evaluation based on the e.perience of those assigned to the project,s risk management team.) :

+efault rating-scoring system is as follows* )m act *core can be rated as :, ;, <, =, or > (: ' 2ery 9ow, > ' 2ery 8igh). Pro+a+ilit, can be rated as ?.:, ?.;, ?.<, ?.= or ?.> (?.: ' 2ery 9ow, ?.> ' 2ery 8igh).

5$ E&tab,%&+ r%&' t+re&+o,d& &tate below how the project team will plan for risk events, e.g. 0The project will
establish risk responses for risk events that have been determined to have a rating of @8igh,.1 $isk &core is defined as Impact &core . %robability and is shown in the following chart. %riority is based on $isk &core. Impact Score # $# $1 Probab%,%ty $6 $7 reen ' 9ow $isk Bellow ' 3edium $isk Red ' 8igh $isk The %roject Team develops a full response plan for each item rated as 9%)+ risk. These risks are watched closely. The %roject Team should create a response plan for any 3edium risk item where they deem it necessary. 8owever, in general no response plan is re!uired for 3edium risk items. 3edium risks are monitored on a regular basis. 7o action is re!uired for 9ow risk items. /ll $isk items with a response plan are to be entered into the Risk Res onse Plan document. ?.: ?.; $4 ?.= ?.> 1 ?.; ?.> ?.< A.: A.= 4 ?.< :.< :.< ;.< 3$4 6 ?.= A.: A.< 3$7 5$1 7 ?.> A.= ;.< 5$1 8$# 3$4

6$ De*%(e r%&' comm-(%cat%o(&:

%ut your organi(ation name here

Page 3

Put your logo here

Put your organization name here

Project Risk Management Plan Template

Rev. 2.0, 09/07/2003

#$ R%&' Ma(a)eme(t Strate)y

8$ De*%(e r%&':trac'%() proce&&:

/$ Project R%&' Ma(a)eme(t P,a( Appro0a, S%)(at-re&

Project Name: Project Ma(a)er:
) have revie(e- the in.ormation containe- in this %roject $isk 3anagement %lan an- agree/ 0ame 1itle *ignature #ate

1he signatures a+ove in-icate an un-erstan-ing o. the ur ose an- content o. this -ocument +, those signing it. 2, signing this -ocument, the, agree to this as the .ormal %roject $isk 3anagement %lan -ocument.

%ut your organi(ation name here

Page 3